With the deep analysis of the above alternatives, it is recommended that the company must pick the alternative 3 in order to preserve a competitive position in the long run. As the alternative 3 would enable the company to not just present brand-new and innovative items in the market it would likewise minimize the high expenses on R&D under alternative 2 and increase the profit margins. It would allow the business to increase its share costs too, as financiers are willing to invest more in business with considerable R&D spending and increase in the overall worth of the company.
Action and implementation Strategy
Method can be implemented effectively by establishing specific short-term as well as long term strategies. These plans could be as follows;
Short Term Plan (0-1 year)
• Under the short-term strategy Rethinking Legal Services In The Face Of Globalization And Technology Innovation The Case Of Radiant Law should perform various activities to implement its NHW technique efficiently. These activities are as follows;.
• Get the audit of its brand name portfolio done, to examine the core selling brands, which generate most of its income.
• Examine the present target market along with the marketplace section which is not consist of in the company's circle.
• Examine the present financial data to measure the amount that should be spent on the R&D and acquisitions.
• Analyze the possible financiers and their nature, i.e. do they desire long term advantages (capital gain), or the want early earnings (dividend). It would let the business to understand that how much amount must be spent on R&D.
Mid Term Plan (1-5 years)
• Get those companies in which the company has possible experience to deal with. Get most beneficial organizations with a strong dedication to health, to build the client's understandings in the best direction.
• Focus more on acquisitions than R&D to build the base in the customer's mind about Rethinking Legal Services In The Face Of Globalization And Technology Innovation The Case Of Radiant Law worths and vision and to avoid prospective risk of sunk expense.
Long Term Plan (1-10 years)
• Obtain organizations with health along with taste factor, as the base for the Rethinking Legal Services In The Face Of Globalization And Technology Innovation The Case Of Radiant Law as a business producing healthy products has been constructed under midterm plan and now the business could move towards taste element also to understand the customers, which focus more on taste rather than health.
• Be more aggressive towards R&D than the acquisitions, as it is the considerable time to build new products.
